Stabenow submits tier 5 unemployment benefit extension

Sen. Debbie Stabenow of Michigan has introduced a bill in the U.S. Senate that would create a fifth tier of unemployment benefits for the 99ers — the long-term unemployed who have exhausted the 99 weeks of benefits provided in the existing four tiers that are available.

In a statement from her office, she said:

“Across our state, more than 35,000 people who have lost their jobs have also exhausted their unemployment insurance benefits. I know that these men and women want to work and have been trying their best to find jobs in this difficult economy,” said Stabenow. “My legislation cuts taxes for businesses that hire new workers who have been looking for work the longest. My bill also provides 20 more weeks of unemployment insurance to people in states like ours with the highest number of people out of work.”

The bill would provide an additional 20 weeks of benefits to individuals in states with an unemployment rate above 7.5 percent. It would also extend the HIRE Act tax credit, which reduces payroll taxes for companies when they hire someone who has been unemployed for more than 60 days.